Aquicore buys Blackstone’s IoT play Entic

US-based asset operation platform Aquicore has acquired Blackstone-backed Entic, an analytics solution that generates recommendations to improve facilities performance, through the use of Internet of Things technology.

It’s a move that is becoming a trend within the market; tech companies coming together to provide a better offering for clients. Asset management platform Coyote recently partnered with Nimbus Maps and WiredScore.

Logan Soya, CEO of Aquicore, said the acquisition of Entic will help the firm “accelerate that much faster” and that it is “capitalising on a wealth of synergies” that will push the company “into the future”.

“The Entic and Aquicore teams offer an incredibly complementary set of skills that will really change this industry for the better now that we are working in unison,” added Carlos Diaz, co-founder of Entic, who will be joining Aquicore’s executive team.

Entic’s analytics will be available through Aquicore’s mobile application and platform which provides users with portfolio-wide visibility, utility budget tracking and tenant billing tools.

“The combination of Entic’s prescriptive analytical platform and Aquicore’s fast, portfolio-level installation will allow for rapid deployment and performance improvement at scale,” said Don Anderson, chief sustainability officer of Blackstone Group.

Aquicore and Entic are currently used across 250m sq ft in the US. The joint company is backed by top investors in property technology, including Blackstone, ClearSky, Navitas Capital, Normandy Real Estate Partners and Fifth Wall Ventures.